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the crisis over, yes, the fiscal cliff. and origin tina's rating is slashed over five notches. we'll speak to a bondholder who once represented the country's creditors. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> as we get into the trading session here in europe, you can see behind me decliners outpacing advancers by about a 4-1 ratio, with stocks shedding about a third of a percent. we'll get to more of that shortly. first take a look at the forces individually to get a sense of where we're seeing the selling pressure and it is pretty much consistent. there's the ibex 35 down .7 of a percent. the ftse down about a third of a percent. not many green spots to find. yesterday we saw that rally in peripheral debt. today we're actually seeing firmer prices across the board, so whether the u.s. down there or italy and spain here in the periphery, 4.7%, 6%, remarkable there, level for spain even today as the country's banks are being more fully examined in light of the national examination plans. the dollar/yen pulling back about half a percent
. then is the looming fiscal cliff casting a shadow over shoppers and investors this holiday season? visions of bargains are dancing in the heads of consumers. will the possibility of higher attackses slow them down. we'll talk with matthew shay, president of the national retail federation and john sweeney of fidelity investments. the holiday is over for white house and congressional leaders trying to make a deal. we'll ask our sunday panel if they can reach a compromise. >>> a thanksgiving tradition, our power player of the week has me dancing with turkeys, all right now on "fox news sunday." >> chris: hello again from fox news in washington. on this holiday weekend we're watching several major foreign policy developments from egypt to gaza to the continuing converse over the benghazi attack. to talk about it all is senator john mccain. welcome back to "fox news sunday." >> thank you. dancing with turkeys? >> chris: you'll have to wait until the end of the show to see. >> that's what we're doing now. >> chris: let's start with egypt where president morsi granted himself unchecked powers and sent thousa
, off its lows at 1404. fears of the fiscal cliff taking center stage once again, driving stocks lower after last week's 3% surge. that big gain friday, 172 points. we lost a third of that right now. how can you protect your for portfolio? we have chief washington correspondent john harwood, bill from coors state capital advisers who has a review of the new "lincoln" movie, lee munson and senior economics reporter steve liesman, plus mary thompson. we're going to be here for a while. john, let's start with you. any signs of progress on the hill? >> reporter: nothing tangible. we saw it at the initial meeting between the president and congressional leaders. we saw it over the weekend when some republicans again repeated their openness to being willing to raise taxes, which is something that is violated republican orthodoxy. here is jay carney just a few minutes ago in reaction to those comments. >> some of the comments you mentioned are welcome. and they represent what we hope is a difference in tone and approach to these problems and a recognition that a balanced approach to deficit re
lawmakers to get a deal done and avoid the fiscal cliff. >>> next stop, the white house later this afternoon. good afternoon, everybody. i'm tyler mathisen. it is a big day in this national discussion about how washington can avoid the fiscal cliff. some of the senators in the center of the debate will be stopping by. we may hear from some ceos this hour. we do expect to hear from some of them at a press conference later this hour. the president, by the way, weighed in on the debate this morning as well. sue, a busy day down here in washington. >> it sure is, ty. indeed it is here as well. we are going to be joined by a very special guest, noted author and investor nassem taleb. after dropping more than 100 points in the early going, the dow sittingality the highs of the day. it's been an extremely volatile trading session, we're up just about 80 points or so. bob pisani joins me from the floor of the nyse. bob, they're parsing every word coming out of capitol hill and house speaker boehner giving a boost to the markets a bit ago. >> he did. he is a little more optimistic. but we're being bl
and their respective parties in debating and discussing solutions to the fiscal cliff. president obama organizing a campaign to persuade voters that his plans for higher taxes on the wealthy are the right path forward. leading republicans creating consternation within their own party does they reversed themselves from taxes and seemingly the president's ideas of increases, a growing number on the right rejecting their no new taxes pledges and instead are now claiming the grover norquist is the real problem in washington d.c. fox digital politics center is here with us tonight as is the daily caller stalker carlson. egyptian leader declaring new powers for himself, claiming he won't be just another dictator. just a week ago praised by the obama administration for brokering a ceasefire in gaza, and now the white house is silent on the more -- coupe. middle east expert professor hoover institute senior fellow "wall street journal" as columnist among our guests here tonight. we begin with the president's broad based strategy to conduct our right class warfare against the republican party on the issue
over the fiscal cliff? the democrats, 202-585-3880. republicans, 202-585-3881. independents and all others, 2.202-585-388 yesterday at the daily news conference of the white house, jay carney the spokesman there was asked about liberals who are advocating going off the so- called fiscal cliff. here is what he had to say. [video clip] >> he spoke with john boehner. by the weekend and he will meet with them at the appropriate time as well as nancy pelosi and mitch mcconnell. so the process that he began is continuing. recanting you to be optimistic that a balanced approach is achievable. we know what the solutions are. it was senator who said that in an op-ed, one benefit of all of the debate said we have had any discussions over the past couple of years is that we know what the parameters of a balanced solution for these challenges look like. and they include both spending cuts and revenues and entitlement reform. they have to have -- all three legs of the school of got to report of that. >> jay carney at the white house. was asked about the idea of going off the fiscal cliff. alan k
less conversation and more on the fiscal cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll see you here tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax
charged off the fiscal cliff? >> welcome back. >> greece has been thrown another lifeline, as we heard earlier. but the eurozone crisis is continuing to cause economic contraction. revenue figures show that europe pose a growing debt levels are said to present more threats in the years to come, even to vibrant economies, like germany's. >> germany's labor market has weathered the euro debt crisis relatively well across all sectors, but a new report by the organization for economic cooperation and development says the unemployment rate in the country will rise slightly next year by 0.2%. and that is not all. the oecd says germany's gdp will grow by just 0.6% in 2013, which is much less than economists were predicting a few months ago, but it is more than france can hope for. and the crisis-hit countries are expected to fare even worse -- spain's gdp is expected to shrink by 1.4%. portugal's by 1.8%. greece's by a massive 4.5%. the report predicts the gdp of the eurozone as a whole will shrink by 4%, but it says germany is unlikely to fall into recession thanks to robust demand on the do
mccain. it is a fox news sunday exclusive. >>> then, with the loom fiscal cliff, is it casting a shadow over shoppers and investors this holiday season? visions of bargains are dancing inned the of consumers but will the possibility of higher tax slow them down? we'll talk with matthew shay of the national retail federation and john sweeney of fidelity investments. plus the holiday is over and the white house and congressional leaders try to make a deal. we'll ask our sunday panel if negotiators can reach a compromise to avoid the fiscal cliff. and a thanksgiving tradition, our power player of the week has me dancing with turkeys. all, right now, on fox news sunday. ♪ >> chris: and, hello again, from fox news in washington. on this holiday weekend, we are watching several major foreign policy developments from egypt, to gaza. to the continuing controversy over the benghazi attacks. here to talk about it all is senator john mccain, and, senator, welcome back to fox news sunday. >> thank you, chris, dancing with turkeys? >> chris: you have to wait until the end of the show to s
and positioning over the fiscal cliff negotiations. >> would you subpoena a deal that does not include tax rate increases for the wealthy? is that something that's acceptable? >> no. pete: and a candid assessment of the stakes from one of the g.o.p.'s rising stars. >> the fiscal cliff is a creation of the political branch in washington, d.c. and an example of a dysfunctional process. that threatens our economy and millions of people across our economy. pete: is stalemate in washington stifling the economic recovery? joining us this thanksgiving week, peter baker of "the new york times." molly ball of "the atlantic." and jim tankersly of "national journal." >> award winning reporting and analysis. covering history as it happens. from our nationas capital, this is "washington week with gwen ifill." produced in association with "national journal." corporate funding for "washington week" is provided by -- >> we know why we're here. to chart a greener path in the air and in our factories. to find cleaner, more efficient ways to power flight. >> and harness our technology for new energy solutions. >>
that was very premature about the fiscal cliff. we still see little or no movement on a deal. president obama might want higher rates and cap on reductions for more tax revenues. that could be a deal-breaker and the markets won't stand for long while nothing gets wrong. i don't want to be overly pessimistic. i'm trying to be realistic. i'm reporting what i'm hearing. but stocks did rise a bit on news after cease-fire between israel and whhamas. is israel snaf particularly when we know that palestinians and gaza may just rest unand rearm for the next round? >>> finally as you head out into the thanksgiving traffic, ask yourself where president obama still hasn't given the green light to the keystone pipeline that would give us jobs and energy n independence? now a truly bipartisan group of senators is telling the president to make a decision right now. first up this evening, this is the big question. will we get a deal done or might president obama just let us go right over the fiscal cliff, take the recession, and simply blame the gop? this is a serious question that i'm hearing from washingt
trail to talk about his solution for the fiscal cliff. nothing is getting done in washington. >> what is rich's the $230,000 for a tough pill to swallow for new tax hikes. so now it will buy even make dead-end. what does lou dobbs think? melissa: corporate america racing to get ahead of the cliff with wall street funds to help your wallet. melissa: time for stocks ahead to the floor of the new york stock exchange with nicole petallides confidence hitting the post recession peak but traders are not buying it? >> >> of its numbers result of the market moved higher the dow moving into the green but now was sells off continuing the trend. we're doing much of the same we're under pressure with dow jones industrial average but also of the nasdaq has some of perot's. the confidence numbers of the highest levels since february 2008 also case-schiller shows the total order for durable goods is unchanged. we have a deal on wall street and some upgrades so there are bits and pieces and many are rushing to get ahead of the fiscal cliff. lori: with the potential tax increase with dividends compani
one full percentage point. road map for the morning starts off with the fiscal cliff. the president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. >> costco joins the dividend parting initiating a $7 a share payout on top of the regular dividend. >> and a shake-up at groupon. the board may be considering co-founder being released. >> there's powerball fever. 500 million big ones in the pot. how would you spend the money and how does the fiscal cliff factor in? we'll talk strategy with a former lottery winner. >> we begin with the fiscal cliff. this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are falling with signs there are troubles with negotiations on capitol hill. a market credible deal to solve the cliff is key to economic growth. >> that annual growth idea, that prospect is real in my view if we actually did get a market credible $4 trillion plan. the markets would realize those guys can govern.
of this fiscal cliff that if my opinion, at least, is starting to hurt spending. >> it is hard to believe because why like toship but a lot of people go because it is a celebration thing, a lot of them are tag about it is like a party like lining up to see the ball drop on new year's so it is not just deal seeking. >>guest: it is becoming a huge event. you have to credit the retailers and the media for building it up because it is a big part of our economy and a quarter of the sales will be taking place here for the year take place in the next couple of weeks, but the fiscal cliff is out there. the fiscal cliff for the consumer is the worst thing that has happened since paris hilton released her debut music album, and there is not a lot of hope for congress to resolve anything. >> but consumer confidence is at a file year high so it must translate into opening of the wallets? >>guest: that is a fair point but if you look at the most recent consumer sentiment survey, you talk about future expectations, they are lower when than the last few months, and the lower expectations are because of the fisc
away from the fiscal cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations sent this letter to top lawmakers urging congress not to increase taxes writing, "we strongly urge
't want to tip them off. we need to let this go. the fiscal cliff and jobs are far more important. >> and let's talk about the fiscal cliff and jobs. in your time in california you worked on in the state assembly, a state hit hard by a fiscal y crisis. >> i sure did. >> i want to talk to you about something you said in terms of medicare reform and medicaid. obviously republicans are saying, look, in exchange for any type of taxes going up, we want to see some real entitlement reform. you talk about cracking down on waste, fraud and abuse. is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to
on the fiscal cliff next year and i see the housing market getting better around better and i think that's a positive. >> rick santelli, it wasn't just stocks rallying today. here in the u.s., europe had its best week of the year this week. the euro is at a three-week high. gold was very strong today. what's the market telling us right now? >> i think the market's telling us that there's a lot of bargain hunting and a lot of optimism towards europe. that made sense. i think that the issues of europe are far from cured. i don't think they can be cured. but i do think there's going to be large time gaps where investors hit the gas because the bureaucrats aren't necessarily hitting the brake. whether it's cyprus seems to be an issue. but it's strong. greece really isn't a huge issue but it really does represent kind of how the thinking goes for larger issues that europe has defaced. i found it fascinating, the dollar index closed down over a penny, even though had a strong gain on the week on the yen. it just goes to show you how that euro is so powerful this week and how in the last couple
republican colleagues. >> a growing group of liberal fiscal cliff jumpers if you will as they're being called, they seem to be willing to risk everything, jump off the cliff if social safety nets face deep cuts while tax rates stay low for the wealthy. do you think that is smart politics or could it backfire against democrats? >> i think what the president has said is the right approach to take which is that we want to do everything we can to avoid the fiscal cliff consistent with what he said during the campaign which is that, number one, we have to focus on jobs and the jobs plan and, number two, we have to ask higher income individuals to start paying a little bit more to reduce the debt because if you don't, simple math tells you you will hit everybody else harder. the president's priority has been to protect the middle class and do that by asking higher income earners to pay a little bit more. so i think the president has been clear. he has set forward a plan to prevent us from going over the fiscal cliff and the choice republicans have is are they going to continue to insist on saying t
people here in washington are calling the fiscal cliff. today, we have new proof that people across the country not only are aware of what's going on, they're very, very worried. our new poll shows 68% say the country will face either a crisis or major problems if the cuts in taxes aren't avoided. and a whopping 77% say their personal financial situation will be affected by a failure to solve the fiscal cliff problem. despite this nationwide sense of urgency, there's only a little talk of compromise right now as lawmakers return to washington. our congressional correspondent, kate bolduan, has been working her sources on capitol hill and what's going on. stakes are enormous right now. what's going on? >> they were away for a week. staff was supposed to be working. but lawmakers are arriving back in town with no real whisper of an imminent breakthrough at the moment to avoid this looming series of tax increases and spending cuts that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments
in washington. the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senato
calling the fiscal cliff. and yet the consumers we have been talking about are not acting very worried. trying to capitalize on the strong holiday shopping season, the president warned that the economy will spiral downward if it is not addressed. >> i think it is a reason that retailers are so concerned. that congress has not yet extended the middle class tax cuts. >> reporter: the report also estimates that consumer spending could drop by $200 billion by 2013. 31st, there will be a massive fiscal cliff, of large spending cuts and tax increases. >> reporter: the federal reserve chairman coined that term last spring, restoration of 2% in payroll taxes, expiration of unemployment benefits and $110 billion in automatic cuts, to programs like defense. the political sticking points? tax rates, most democrats want tax rates for those making $250,000 a year to go up. republicans want it to stay the same, but would limit the deductions and close loopholes. there is a disagreement on who should be considered wealthy warren buffet argues that the timeline for the rich should be raised from $250
's how congress rolls. and now with just 36 days remaining to avoid the so-called fiscal cliff, senators are coming back to work. the house returns tomorrow. the white house is working both sides of the beltway to maintain bush-era tax rates for the poor and middle class, while letting those lower rates expire for higher earners. this morning, the white house put out numbers claiming if we fall off the cliff, consumers will be spending less money next year. how much less, exactly? $200 billion in fiscal 2013 alone. that would be a huge, huge hit on retailers. now, tax hikes are the biggest part, but not the only part of the fiscal cliff. seeing it as a fiscal cliff, the new year will also bring more than $100 billion in spending cuts, if -- if congress and the president can't agree on some other course. all of this brings me to my friend, cnn's christine romans with details on the toll on consumer spending. we threw out the number, $200 billion. what does that mean? >> it comes straight from the white house, trying to ride the coat tails of black friday weekend when throwing around how m
off the fiscal cliff than accept a deal that does not raise the tax rates. as much as you hear this talk it all comes to looking good through the republican house. we do not know yet. we know the staff's been working back and forthe. there's been all sorts of things floating around. to correlate for what the tax cuts would be for the rest of the decade. it's complicated stuff. both teams growing at it. i know they spoke over the thanksgiving holiday, but we are not close to a gentlemen's agreement like you're perhaps hearing from the a few united states senators, tamron. >> thank you very much. let me bring in news nation's senior political reporter lois romano and cnn contributor and strategist keith boykin. we touched on comments on morning joe. he released a little more detail. it says in part republicans aren't against tax rate hikes because of one man or a pledge. we're against hiking rates because they're bad for the economy and hurt jobs. our first team points out it seems like the parties are ready to agree to a large point for taxes on the wealthy. the down side is the
, the fiscal cliff negotiations will heat up. now the speaker of the house has thrown a new problem into the talks, can a deal actually be reached? >>> shoppers looking for their own kind of grand bargain today. we're going to look at the black friday crush at shopping malls and super stores all over this country. but we start this hour with breaking news in egypt. you're looking at live pictures of tahrir square in cairo after the new egyptian president morsi gave himself sweeping new powers today. tahrir square also the heart of last year's uprising. demonstrators filled the streets of alexandria later today. morsi's new powers put his own decisions above all legal challenges until a new egyptian parliament is elected. despite the protests, morsi moving ahead with his plans at the same time insisting that his new powers are for the good ofu issued a statement moments ago saying in part, quote, we call for calm and encourage all parties to work together and call for all egyptians to resolve their differences over these important issues peacefully and through democratic dialogue. ji
this morning. congress is back in session, and just in time, we are now 35 days away from the fiscal cliff. >> a big day in the middle east. today both israel and gaza meet to further the cease-fire between the two embattled nations. we're going to have a live report coming up for you. >> gray thursday, black friday, and now cyber monday. but just how good are the deals today, compared to what was put out this past holiday weekend? we're going to break it all down for you. >> did you do any shopping? >> absolutely not. there's too much football. >> don't you love it? >> good morning. welcome to "early start," i'm john berman. >> and i'm zoraida sambolin. 5:00 a.m. in the east. so let's get started. they are back. our lame duck congress returning to capitol hill today. the senate in session this afternoon. the house back tomorrow. and with 35 days left, as john just reminded us, before we plunge down the fiscal cliff, two prominent republican senators, lindsey graham and saxby chambliss are signaling they are willing to give a break the no tax pledge. that is a hopeful sign, folks, because
investors no favors real acquainting them instead with the scary parts of the fiscal cliff story. the federal reserve chairman spooking investors saying that the bank would not have infinite ability to address the fallout from the failure to avoid going over the so-called fiscal cliff. the dow jones industrial today losing seven points, s&p, nasdaq up fractionally. president obama returned to the white house after a three day trip to -- through southeast asia with stops in cambodia, thailand, and burma. the president takes part in a yearly presidential tradition. the parting of the national thanksgiving turkey in the rose garden. the prime minister of israel reiterating tonight that the cease-fire deal has been reached he told reporters that israel will take whatever action is necessary to defend its people but stated a diplomatic resolution would be preferred. joining as, fox is national-security analyst, former ambassador to the united nations. let me turn to you first. is it your sense that a deal has been reached between hamas and israel? >> because israel has accomplished th
-on-year, that is pretty good. >> what fiscal cliff, right now we're up by 12% from our 12 month low. in terms of a month long average that is pretty good, investors are not as frightened as they were some days ago regarding possibility of higher taxes, for capital gains and dividend. lou: they are still in prospect, all of it is. we have folks introducing bills to defer the whole thing for a year now. and the president is making nice, he is talking with ceos, seeming leally almost every othr day. >> market thinks we have a kinder and gently barack obama, who knows that might be correct. but who knows, business sales show no signs of improving sig 1/2 cannily, we'll issue watching what happens this week into start of the holiday shopping scene very closely. lou: at what point do we just acknowledge we're sort of you know bumbling along, economically, that the markets are outperforming the economy. and if we look at this right now, there is a project here that from index of leading economic an kate or to market's behavior that says we have good things in store here 6 months down the road. >> equity can li
you. congress and the president have just 40 days to avoid the so- called fiscal cliff. when the ball drops on new year's eve, tax hikes and severe spending cuts will kick in automatically unless a deal is reached. wyatt andrews spoke with two men who say they know how it should be done, if only washington would listen. >> reporter: two years ago, the fiscal commission chaired by democrat erskine bowles and former republican senator alan simpson proposed every basic element of the fiscal cliff solution being discussed now. their plan was a mixture of higher taxes, lower spending and the reform of medicare and social security. both men told us sacrifice has to come from everyone. >> all of us have to have some skin in the game to get it done. >> if you want something, pay for it. it's a sick idea, but it is an interesting idea. >> reporter: their biggest idea was to increase revenue by combining both the president's demand for higher taxes on the rich and the republican proposal to get rid of tax loopholes. bowles/simpson would eliminate almost every tax deduction for individuals and c
in congress over the fiscal cliff. >> they're going to be pulling back a little because they don't know what to expect for 2013, and they want to remain cautious as we move forward into the next year. >> that was kristen dahlgren reporting. speaking of, congress returns from the holiday this week, still facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more in taxes next year, coupled with $100 billion in cuts to domestic and defense spending. now, since the reagan era, most republicans have pledged not to raise taxes. as mike viqueira reports, there are signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed. to oppose tax increases of any kind. that once solid wall was showing crass. >> the pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed, and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree that changes in social security and medicare. >> i
anything to avoid it. i'm referring to the so-called fiscal cliff. you may have heard about it. it's the simultaneous convergence of tax increases and spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >>
a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on there. that was very
is pulled back. dagen: thank you. if congress is unable to prevent the fiscal cliff, our lawmakers could send the entire world economy into a recession. steve moore is here, senior economics writer at the "wall street journal." he joins us now from washington, d.c. will they prevent it, steve? >> the good news is, no one should ever listen to what they say. but, you know, these go sheesh and keep rolling on. my sources on capitol hill say that there is still a lot of gridlock there. the main thing, in my opinion, can they reach a deal on these taxes that does not require all of the requirements of business to go up? dagen: do think that happened, because again, there are so many taxes that we need to worry about, the lawmakers never fixed it for 2012. if they do not fix that, it will hit 33 million americans. the payroll tax cut. will that go away, because, again, it was temporary ones, temporary twice and it will still be a higher tax. >> im so glad you brought up the amt. nobody has really been focusing on this. that would be bigger than even extending the bush tax cuts. you are talkin
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approach on the fiscal cliff, saying the elect is over. it's time to stop campaigning and start talk. some republicans are telling the president, show us your hand. martha: not over the cliff yet but perhaps headed there. good morning. i'm martha maccallum. the minority leader mitch mcconnell called the president out for what he says is a campaign-style blitz instead of negotiations between both sides. >> rather than sitting down with lawmakers and working out an agreement he's back on the campaign trail. we are not going to solve this problem by creating villians and drumming up outrage. >> he will be out trying to i'm sure zero in on those states represented by members of the house and the senate to try to get public support. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be w
of these folks are saying if we get a compromise as far as the fiscal cliff, by the end of the year this event means higher oil and gas prices, so there is a lot of indecision down here on the floor, but a volatile market with the middle east playing out. melissa: thank you so much. just in time for black friday, to survey highlights what we can expect consumers to spend this holiday season. rich edson has the story. >> americans will spend a little bit more this year, a just-released survey of holiday shopping says. the credit union national association of consumer federation of america said retail can expect a better holiday than last year, though not much better. >> our basic result is more optimistic than last year, the strongest results in the last four years, however still does not suggest a booming holiday season, but a continued improvement from the last few years. speak of a state college spending to increase from three and a half to 4% over 2011. the numbers behind that, they will spend less than last year. analysts say plenty of shoppers say they will spend less and never do. 12% ad
with the fiscal cliff. i want to go to your call for a special prosecutor. on benghazi, but, going to the fiscal cliff, the speaker making it very clear, that he's going to approach the negotiation of the white house, on the cliff, positively with some sense at least of accommodation, potential accommodation, if his terms are met. that is positive stuff, don't you think? >> well, it is positive. but, there's a lot of pressure, right now, and, of course, pressure is what you can use to take care bonn and make diamonds. this is the time to be bold. this is not the time to be defensive and i'm glad the speaker has come forward with a proposal but, the thing is, we ought to be taking the president's words and sticking them back with him. he wants everybody to pay their fair share. let's do it. let's have capital gains, 15%. let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in perc
right now. tonight as the fiscal cliff drama unfolds on capitol hill, we'll take a step back and look at how we got to this point. namely, how do we become a nation buried under more than $16 trillion debt, why crippling defense cuts, and the largest tax increase will take hold in 35 days because your elected officials don't know how to stop spending money. let me first play a small part of one of the most memorable inaugural addresses of all time. >> my fellow americans, ask not what your country can do for you, ask what you can do for your country. >> sean: sadly five decades removed from that iconic speech, the democratic party, its leaders, and countless other americans, rely on government for too many things. instead of asking what they can do for their country, they're asking what their country can do for them. now the debt record is at record levels, tax rates are soaring, because nowadays handouts have taken the place of hard work. a liberal notion has permeated our society one that now says the federal government, it's their job to find you a job. it's the so-called rich that
the fiscal cliff? >> everybody agrees. >> going over the fiscal cliff will hurt our economy and will hurt job creation in our country. >>er -- every family in america will see their taxes automatically go up at the beginning of next year. >> shepard: so how to avoid that. >> the president and congress will either fail together or we will succeed together. >> there has to be a deal. there has to be an agreement. >> and if they can't come up with a compromise, we are all going to pay the price. plus, they are some of the biggest names in baseball. bonds, clemens, sosa. all three tainted by accusations they used performance enhancing drugs. but should that keep them from cooper's town? tonight, the great debate over baseball's hall of fame ballot but first from fox this wednesday night, the president hopes who have the framework of a deal to avoid the so-called fiscal cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make
they are republicans. then theyou have republicans. i don't see how we can survive this fiscal cliff if john boehner does not follow the lead of the president. he said a couple days ago we have to put obamacare in a position to and take some cuts from it. that's crazy. john boehner and mitch mcconnell and all of them have given the president a hard time. that's why we voted for these people and they are supposed to do our bidding, because people are hurting. host: let's take it to the state level in a carolina, state legislature, republican governor, republican. what are the big ticket items they will start working on? caller: i don't think the governor knows himself. he claimed that he will bring relief to the state. i don't see how he's going to do it. they are going to cut a lot of social programs that they call wasteful spending. people are going to really see what he's made of. what is your name again? host: what is that? caller: pope was the one along with the koch brothers that got it mccory into office. they are bought and paid for. they don't do the people -- everybody needs to be represent
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